4 ms·
Technically, the consensus mechanism is the mining lottery, which is how transaction order is finalized, preventing double spends. The scheme for commitment of
by acjohnson55 5y ago
Technically, the consensus mechanism is the mining lottery, which is how transaction order is finalized, preventing double spends.
The scheme for commitment of a scarce resource (e.g. PoW, PoS) is the Sybil resistance scheme, which is what makes lottery participation conform to some notion of fairness. You have to buy your lottery tickets.
- dolmen 5y agoCan you win at the BTC mining lottery with just one ticket? Is it worth mining with a slow machine?
- acjohnson55 5y agoSure, you could. But much like the real lottery, it's not worth playing a game that has negative expected value. At this point, my understanding is that mining BTC with anything other than an ASIC is not going to be worth the cost in electricity.